Nationwide Cuts 480 Jobs In Latest Layoffs

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Listen to the interview as WOSU’s Kim Fox spoke with Nationwide spokesman Eric Hardgrove about the announcement of the recent layoffs.

A Nationwide Mutual Insurance Co. spokesman says the company is laying off 480 people across the country, the latest round of job cuts by the Columbus-based corporation.

Nationwide spokesman Eric Hardgrove says the layoffs, which include about 150 positions in central Ohio, were announced and took effect on Friday. He says affected employees will receive an additional 60 days of pay in their severance packages.

Nationwide has eliminated about 3,000 jobs nationally over the past two years. The insurance giant lost $342 million last year as the industry dealt with claims from an unusually high number of hurricanes and a sharp drop in investment returns.

Hardgrove says the company has about 35,000 employees, including about 11,000 in central Ohio.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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